Unfortunately I am unable to travel far from Mere. What is the rationale as to why all Mere conveyancing practitioners are not on all bank panels?
Even though it may seem unfair for banks to restrict who can represent them, from the public’s or lawyer’s viewpoint, the flip side is that lending institutions are becoming ever more anxious and consider it necessary to shield themselves against mortgage fraud. As a consequence of this concern lenders are limiting their panel of approved conveyancing lawyers to a manageable size.
Why is leasehold purchase conveyancing in Mere is more expensive?
The conveyancing costs on a leasehold property in Mere is frequently greater than on a freehold acquisition or disposal. This is due to the extra work necessary in corresponding with the landlord and managing agents to obtain evidence about whether the rent and maintenance charges have been paid and whether there are any major works due in the near future on repairs or maintenance of the building.
I am considering applying for a Clydesdale mortgage for purchase of a new build (under development) in Mere with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Clydesdale ?
There is nothing to stop you using your solicitor, but Clydesdale will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Can you point me to a directory of RBS panel solicitors in Mere on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such directory service on the CML or Building Society Association websites. A small selection of lending institutions make their panel listings viewable online. If you are seeking to appoint a Mere conveyancer on the RBS please use our tool.
We previously instructed solicitors located in Mere on the RBS solicitor approved list. They are now charging me an additional amount for dealing with the RBS mortgage. Is this an additional conveyancing fee set by RBS?
Provided it is contained in their Terms of Engagement or Quote then yes your property lawyer may levy a fee for this. This fee is not set by RBS but by your Mere conveyancer. Plenty of firms on the RBS panel will charge ’dealing with mortgage’ fee and others do not.
We are getting the release of further funds on our home loan from Yorkshire BS as we wish to carry out alterations to our house in Mere. Are we obliged to select a nearby Mere solicitor on the Yorkshire BS conveyancing panel to handle the legals?
Yorkshire BS do not ordinarily instruct a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Yorkshire BS conveyancing panel.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Mere is where the house is located. What do you suggest?
Flying freeholds in Mere are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Mere you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mere may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
What happens where there is a problem with the searches carried out as part of my conveyancing in Mere?
Usually, the majority of concerns disclosed in Mere conveyancing search responses can be handled before completion or indemnity insurance can be taken. You need to remember that regardless of the fact that you are buying the property and might be willing to accept the search results, your lender may not, and when all said and done they have the word say.